The trend of the demand for the online trading is increasing comparing to the trend in the past which was not popular and well known. The main reason is the ‘Lack of Confidence’ of the buyers as the online buyers/sellers faced the payment problems from complicated steps. Also, the malfunction of the system, the incomplete transactions and the buyers didn’t get the products from their purchases are all the reasons that the online buyers/sellers in the past lack the confidence in online trading.
With all the aforesaid reasons, Omise who develops the payment gateway system sees the importance in technology development together with the impressive payment system both in the safety for the easy usage on screen and the Tokenization technology in remembering credit card information. This is all to reduce the redundant steps in filling all the information that have been filled before.
At present, the increasing numbers of online stores make it significant for choosing the proper payment gateway. Apart from the large number of choices in the market, the price and steps in applying also play the important roles. The most important one is the user experience, especially the last step of making payment before closing the deal. If the user faced the bad experience in the last step of making payment, this can totally lead to the abandonment of buying products.
In e-commerce world, the cart abandonment comes from different reasons. In this article, we will focus only on the abandonment on credit card payment page.
The main reason is the design of payment system which has many steps to follow and hard to use. Also, the redirection and the complex payment method are all the reasons for the customers to abandon the purchases at the last step. All of the factors here are related to the user experiences.
All the three questions above are all the things that we would like you to consider. The sales amount which is not in progressive way though you have the interesting products may come from the user experience with your payment gateway which is irresponsive or unsupportive. Omise has launched this solution to solve the problems which were faced frequently.
In general, the e-commerce website has to dedicate a huge amount of money in building the traffic in the website, creating the campaigns to increase the conversion rate from traffic, and also building many strategies in closing the deal. All of these will be meaningless if the users faced the problem in the last step on payment page that may lead to the decision of customers to drop off or cancel the purchases. This is the huge loss of opportunity as it is getting close to the closure of selling.
One of the factors that affect the user experience in payment page is the redirection to another website. This may result in the risk of connection lost and the inability in redirecting back to the store website. This is surely the loss of the users at the end because the buyers will terminate the purchases and the sellers will lose the opportunity in selling.
The other important factor is the complicated form on webpage or the redirection to the payment page which is not mobile responsive in case of smartphone transaction usage from the users (this is the latest trend of e-commerce world on using smartphone to buy products online). The complicated form and the smartphone transaction which is not mobile responsive are all the main reasons for the customers to drop off or abandon the purchases online.
Omise realized the problem of this abandonment at the last step of payment page so the company creates the payment gateway which has the White Label Solution to the online markets at all levels.
The outstanding of White Label Solution is solving the problems mentioned above because the website itself can control the design of payment page. Also, it is easy to install and also have the selections of format for payment forms for the stores.
At present, the delivery method and the data storage of Tokenization are the most comfortable and safe ways and are also popular in payment system of credit card. Especially, this leads to the convenience of buyers on e-commerce website.
With the Tokenization management method, this helps the website remember the credit card information of the customers and results in one-click payment in the next time as the customer has filled in all the required information in the website.
In the future, if the buyers would like to come back to buy more products in our website, they do not need to fill in any piece of information but only the credit card numbers (last 4 digits). After that, they just confirm the payment. With this solution, the buyers can purchase the products only in one click. This is very important as this leads to the impulse buying from the buyers and helps increase the opportunity in selling. In addition, for the website that has its subscription system, this technology will charge the money in recurring way.
Omise is also the service provider with PCI DSS 3.1 Compliance standard. This is the standard for leading credit card service provider in world class. With this standard, the customer will then use the Tokenization technology which is widely accepted and has the safest system.
Below is the example of the user who used Omise as the payment channel. This is Event Pop. After answering the questionnaire, we found the interesting points from the answers.
• Event Pop is the company who sells the different types of tickets such as concert tickets, and seminar tickets. • After using Omise payment gateway as the main payment channel, this results in a large number of transactions in daily basis. The buyer only spends 3 minutes in filling all the information (including the payment information). Omise has implemented the API and guarantee that they have the fastest purchasing system comparing to the competitors. • Apart from the speed, the backend management system or Dashboard is another thing that Event Pop chose. This is because Event Pop is also the developer and wants everything to be easy to use. Dashboard is designed with easy to access and easy to use. This is actually answering what the customer needs and can prove that the payment gateway that understands the buyers and sellers will help facilitate all the related parties.
For more information : omise website
This article is advertorial.